Sterling Weaker Before U.K. Labor Market Survey -- Market Talk
August 16 2017 - 4:28AM
Dow Jones News
0758 GMT - Sterling trades weaker before the U.K. labor market
survey due 0830 GMT and ING says that "those looking to wage growth
as evidence for rising underlying price pressures are unlikely to
find much support." GBP/USD is down 0.1% at $1.2860 and EUR/GBP is
up 0.2% at 0.9140. ING expects "GBP to remain on the back foot" on
Wednesday and trade around these levels. Earnings excluding bonuses
are expected to have risen by 2% in the three months to July and
the unemployment rate should be unchanged at 4.5%, according to a
WSJ poll. ING expects earnings to follow a similar path throughout
the rest of the year and questions whether the Bank of England's 3%
target in 2018 is achievable. (olga.cotaga@wsj.com)
(END) Dow Jones Newswires
August 16, 2017 04:13 ET (08:13 GMT)
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